iPass Inc. (IPAS) Upgraded at Aegis
iPass Inc. (NASDAQ:IPAS) was upgraded by equities researchers at Aegis from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.
IPAS has been the topic of a number of other research reports. Benchmark Co. started coverage on shares of iPass in a report on Tuesday, April 25th. They issued a “buy” rating and a $3.00 target price on the stock. Ladenburg Thalmann Financial Services started coverage on shares of iPass in a report on Monday, April 3rd. They issued a “buy” rating and a $2.70 target price on the stock. Finally, Maxim Group set a $3.00 target price on shares of iPass and gave the stock a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. iPass has an average rating of “Buy” and an average target price of $2.68.
Shares of iPass (NASDAQ:IPAS) traded up 7.25% during trading on Wednesday, reaching $1.48. The company had a trading volume of 413,571 shares. iPass has a 12 month low of $0.98 and a 12 month high of $1.89. The firm’s 50 day moving average price is $1.25 and its 200 day moving average price is $1.41. The firm’s market capitalization is $97.04 million.
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In other iPass news, CEO Gary A. Griffiths bought 50,000 shares of the business’s stock in a transaction on Tuesday, March 14th. The shares were purchased at an average price of $1.03 per share, with a total value of $51,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 873,530 shares of the company’s stock, valued at approximately $899,735.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Damien Park bought 25,000 shares of the business’s stock in a transaction on Wednesday, March 15th. The stock was acquired at an average cost of $1.10 per share, for a total transaction of $27,500.00. Following the acquisition, the director now directly owns 70,000 shares of the company’s stock, valued at $77,000. The disclosure for this purchase can be found here. Insiders acquired 123,130 shares of company stock worth $135,300 in the last three months. 5.20% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its stake in iPass by 0.6% in the first quarter. Renaissance Technologies LLC now owns 3,153,798 shares of the technology company’s stock worth $3,690,000 after buying an additional 19,806 shares during the period. Geode Capital Management LLC boosted its stake in iPass by 1.9% in the first quarter. Geode Capital Management LLC now owns 487,439 shares of the technology company’s stock worth $570,000 after buying an additional 9,321 shares during the period. Vanguard Group Inc. boosted its stake in iPass by 1.6% in the first quarter. Vanguard Group Inc. now owns 2,253,788 shares of the technology company’s stock worth $2,636,000 after buying an additional 36,439 shares during the period. Royce & Associates LP acquired a new stake in iPass during the first quarter worth $749,000. Finally, Abbrea Capital LLC boosted its stake in iPass by 46.5% in the first quarter. Abbrea Capital LLC now owns 315,000 shares of the technology company’s stock worth $369,000 after buying an additional 100,000 shares during the period. 29.92% of the stock is currently owned by institutional investors.
iPass Company Profile
iPass Inc (iPass), is a provider of global mobile connectivity, offering wireless fidelity (Wi-Fi) on mobile devices. The Company, through its Mobile Connectivity Services segment, offers a cloud-based solution allowing its customers and their users’ access to its global Wi-Fi network to stay connected to the people and information.
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